Urgent - The Ivey Purchasing Managers Index in Canada is negative and below expectations in October.

On Wednesday, the Ivey Business School released the Purchasing Managers' Index (PMI) data for Canada for the month of October, which came in negative and below market expectations.

According to the reported data, the Ivey Purchasing Managers' Index in Canada recorded 52.0 points during October, which is lower than the expected 54.2 points. The previous reading of the index was around 52.0 points in September.

It is worth noting that the PMI issued by the Ivey School measures the level of activity among purchasing managers in Canada. This survey is conducted with about 175 purchasing managers, who assess business conditions including employment, production, new orders, prices, and inventories.

If the index reading rises above the standard level of 50.0 points, it indicates growth in industrial activity; conversely, if it falls below this level, it indicates a contraction in industrial activity. This index is a joint project between the Canadian Purchasing Management Association and the Richard Ivey School of Business.